当前位置:首页>地产>【房地产】《求是》集中刊文,地产情绪迎曙光——光大地产板块及重点公司跟踪报告(何缅南/韦勇强)

【房地产】《求是》集中刊文,地产情绪迎曙光——光大地产板块及重点公司跟踪报告(何缅南/韦勇强)

  • 2026-02-09 05:58:02
【房地产】《求是》集中刊文,地产情绪迎曙光——光大地产板块及重点公司跟踪报告(何缅南/韦勇强)

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报告摘要

一、近期《求是》集中刊文聚焦房地产和城市更新,改善和稳定楼市预期
1)1月2日,《求是》杂志刊文《改善和稳定房地产市场预期》,提出“房地产带有显著的金融资产属性…加强预期管理对稳定房地产市场具有特殊重要性”, “政策要一次性给足,不能采取添油战术,导致市场与政策陷入博弈状态”。
2)1月15日,《求是》杂志刊发习近平总书记《在中央城市工作会议上的讲话》,提出“我国城镇化正从快速增长期转向稳定发展期,城市发展正从大规模增量扩张阶段转向存量提质增效为主的阶段”,“以坚持城市内涵式发展为主线……大力推动城市结构优化、动能转换、品质提升”。同日另一刊文《现代化人民城市怎么建》提出“实施存量更新、激活存量资源潜力将成为带动增量投资、拓宽收入来源、提升资产价值的重要途径,不仅为进一步拉动内需提供重要支撑,也必将为城市高质量发展注入新动能”。
3)1月16日,《求是》杂志刊文《高质量推进城市更新》,提出“城市更新是稳投资、促消费的关键载体”,“十五五”期间,实施城镇老旧小区改造、老旧街区改造、老旧厂房改造、城市基础设施更新改造等城市更新重点任务,将带动数十万亿元的投资和消费。同日另一刊文《以人民城市理念引领现代化城市建设》提出要在区域统筹、人居环境、文化保护、共建共治等关键层面扎实推进人民城市理念在现代化城市建设中落地见效。
二、保障房再贷款利率下调至1.25%,商业用房首付降至30%
1月15日,央行宣布下调各类结构性货币政策工具利率0.25个百分点。各类再贷款一年期利率从1.5%下调到1.25%,其他期限档次利率同步调整;这意味着2024年5月央行创设的3000亿元保障性住房再贷款利率降至1.25%,进一步支持地方国企收购存量商品房用于保障性住房;此外,央行会同金融监管总局将商业用房购房贷款最低首付比例下调至30%,支持推动商办房地产市场去库存。
三、楼市分化加深,高能级核心城市、品质龙头房企销售表现较好
从城市销售来看,2025年光大核心30城商品住宅成交金额3.12万亿元,同比-18.7%;其中北上广深杭蓉成交金额1.67万亿元,同比-15.7%;销售价格方面,核心30城商品住宅成交均价为24,723元/㎡,同比+0.7%;其中,北上广深杭蓉成交均价42,196元/㎡,同比+2.6%。从房企表现来看,具有品牌优势和产品美誉度的龙头房企2025年权益销售额表现较好:中国金茂783亿元(同比+15.5%)、绿地控股635亿元(同比+9.0%)、越秀地产649亿元(同比-5.5%)、华润置地1593亿元(同比-11.5%)、招商蛇口1323亿元(同比-12.2%)。
风险分析:房地产行业的政策宽松政策推进不及预期风险、市场需求不及预期风险、房价下行超预期风险、房地产企业信用风险、项目竣工不及预期风险等。
发布日期:2026-01-17

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  1. CONNECT:[ UseTime:0.001039s ] mysql:host=127.0.0.1;port=3306;dbname=a_mffb;charset=utf8mb4
  2. SHOW FULL COLUMNS FROM `fenlei` [ RunTime:0.001368s ]
  3. SELECT * FROM `fenlei` WHERE `fid` = 0 [ RunTime:0.002659s ]
  4. SELECT * FROM `fenlei` WHERE `fid` = 63 [ RunTime:0.008727s ]
  5. SHOW FULL COLUMNS FROM `set` [ RunTime:0.001339s ]
  6. SELECT * FROM `set` [ RunTime:0.010434s ]
  7. SHOW FULL COLUMNS FROM `article` [ RunTime:0.001496s ]
  8. SELECT * FROM `article` WHERE `id` = 462823 LIMIT 1 [ RunTime:0.018518s ]
  9. UPDATE `article` SET `lasttime` = 1771450328 WHERE `id` = 462823 [ RunTime:0.019593s ]
  10. SELECT * FROM `fenlei` WHERE `id` = 65 LIMIT 1 [ RunTime:0.006515s ]
  11. SELECT * FROM `article` WHERE `id` < 462823 ORDER BY `id` DESC LIMIT 1 [ RunTime:0.012655s ]
  12. SELECT * FROM `article` WHERE `id` > 462823 ORDER BY `id` ASC LIMIT 1 [ RunTime:0.017784s ]
  13. SELECT * FROM `article` WHERE `id` < 462823 ORDER BY `id` DESC LIMIT 10 [ RunTime:0.049320s ]
  14. SELECT * FROM `article` WHERE `id` < 462823 ORDER BY `id` DESC LIMIT 10,10 [ RunTime:0.016610s ]
  15. SELECT * FROM `article` WHERE `id` < 462823 ORDER BY `id` DESC LIMIT 20,10 [ RunTime:0.018983s ]
0.336168s